Contemporary Duplex With
For Sale
$450,000
3521 Gibson Street, New Orleans, LA 70122
Two-unit property with modern finishes, open layouts, and private balcony space on the upper level.
Property Size2,619 SF
Days on Market14
Property Features for 3521 Gibson Street
General Information
Standard status
Active
Size
2,619 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
balconies
Building Details
Building Size
2,619 SF
Year Built
2024
Buildings
1
Stories
2
Construction
modern
Listing Agency:
Compass Slidell
(985) 641-1000
Listed By:
Maribel Morgan
Source:
Nolalivingrealty
Added: Aug 11
Changed: Aug 22
Last Checked: Aug 23 at 1:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Slidell
Investment Insights
Based on property information with market context.
Completed in 2024, this contemporary two-story duplex contains 6 bedrooms and 4 full bathrooms, arranged as two residences with 3 bedrooms and 2 full bathrooms each. Both units feature open-concept interiors, upgraded bathrooms, and modern finishes. The first-floor residence includes tray ceilings with LED accent lighting, while the second-floor residence adds two balconies for outdoor space.
The property is located at 3521 Gibson Street in New Orleans’ Gentilly area, with convenient highway access and proximity to City Park and the Bayou. Nearby outdoor activities include walking, biking, and recreation. The two-unit configuration supports occupancy of one residence while leasing the other or operating both as residential income units.
The property is located at 3521 Gibson Street in New Orleans’ Gentilly area, with convenient highway access and proximity to City Park and the Bayou. Nearby outdoor activities include walking, biking, and recreation. The two-unit configuration supports occupancy of one residence while leasing the other or operating both as residential income units.
Key Highlights
- 2024‑built contemporary two‑story duplex
- 6 total bedrooms and 4 full bathrooms
- Each unit includes 3 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,133
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,660
$542.7K
Cap Rate 7%
$387,614
$387.6K
Cap Rate 9%
$301,478
$301.5K
Market Conditions
NOI Build-Up for 2,619 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.4K $16.20/SF
− Vacancy
−$3.7K −$1.40/SF
EGI
$38.8K $14.80/SF
− OpEx
−$11.6K −$4.44/SF
NOI
$27.1K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,660
Cap Rate 7%
$387,614
Cap Rate 9%
$301,478
Alternative Uses
Best Use
Multifamily LT 5
$387.6K
$339.2K – $452.2K
NOI $27,133 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$336.7K
$294.6K – $392.8K
NOI $23,569 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$685.3K
$599.7K – $799.5K
NOI $47,972 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with modern finishes, open layouts, and private balcony space on the upper level.
Where is this duplex located?
The property is located at 3521 Gibson Street New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2024‑built contemporary two‑story duplex; 6 total bedrooms and 4 full bathrooms; Each unit includes 3 bedrooms and 2 full bathrooms
